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National Beef acquires Iowa Premium for $150m

Mar 13, 2019 - Marketline Newswire
Mergers and Acquisitions-Investments

National Beef has acquired Iowa Premium for $150m, which will help to further boost its operations in North America.

Based in Tama and previously owned by Sysco, Iowa Premium has a daily processing capacity of 1,100 head of cattle. It has annual sales of around $650m.In 2018, Brazil-based Marfrig acquired a 51% stake in National Beef for $969m, through its indirect subsidiary NBM.For the Iowa Premium deal, the Brazilian meat firm will invest $76.5m.As a result of the deal, shares in Iow...